AAM files Ubiquitous ETF at 0.49% after selling a Pence Ubiquitous UIT
On September 9, 2026, ETF Series Solutions filed a 485BPOS and 497K for AAM Ubiquitous ETF UBIQ, a 0.49% tracker of the Pence Ubiquitous Index.
Advisors Asset Management already sells a Pence Capital Management Ubiquitous Strategy Portfolio as a unit investment trust, a fixed two-year stock portfolio. Series 2026-2 carried a 3.24% one-time expense, including a 2.25% deferred sales fee. ETF Series Solutions on Wednesday, September 9, made effective a registration that would offer the Pence Ubiquitous Index as an ETF at 0.49% a year: same sponsor, same Pence name, a different wrapper. The UIT is selected by Pence as portfolio consultant. The ETF would track a rules-based index Pence developed in 2023.
The filing is a Rule 485(b) post-effective amendment, effective immediately, with a summary prospectus the same afternoon. Those are the complete offering documents for a newly organized series, AAM Ubiquitous ETF UBIQ, that has not commenced operations. It is slated to list on NYSE Arca and seeks to track the total return, before fees and expenses, of that index. The prospectus is dated September 9 and says shares will be offered as soon as practical after that date. It does not name a first trading day. The unified management fee is 0.49% of average daily net assets, and that is also the total annual operating expense.
Pence Ubiquitous Index: 23 e-commerce stocks
The index is a rules-based basket of U.S.-listed common stocks and ADRs of companies in the U.S. e-commerce ecosystem. As of August 28 it had 23 constituents, with market capitalizations from $25.13 billion to $4.665 trillion. Target weights are Devices 24%, Platforms 24%, Digital Advertising 18%, Connectivity 14%, Payment 12%, and Delivery 8%. The fund will generally replicate the index, holding the same names in roughly the same weights. It is non-diversified: it may invest a larger share of assets in fewer companies than a diversified fund. The prospectus says the adviser expects the index to be significantly invested in communication services, consumer discretionary, and information technology. The index rebalances and reconstitutes quarterly.
The paper does not name those 23 stocks or their individual weights, so this filing does not show how much of the basket a holder of a broad U.S. fund would already own. Funds already listed for e-commerce and internet exposure charge about the same: ALPS O'Shares Global Internet Giants ETF OGIG at 0.48%, and Global X E-commerce ETF EBIZ at 0.50%.
Advisors Asset Management is the adviser; Vident Asset Management is the sub-adviser. Austin Wen and Devin Ryder, both CFAs and senior portfolio managers at Vident, are named as the managers since inception in September 2026.
AAM has already put a Pence theme into an ETF. AAM Transformers ETF TRFM, which tracks a separate Pence index of companies tied to shifts in consumer behavior and technology, has charged 0.49% since July 2022. This filing is the Ubiquitous version of that move: a perpetual fund at a flat annual fee, beside the two-year trusts AAM still sells under the same Pence name.
Frequently asked
What does the fund hold?
It replicates the Pence Ubiquitous Index, a rules-based basket of U.S.-listed stocks and ADRs in the U.S. e-commerce ecosystem, weighted across devices, platforms, digital advertising, connectivity, payment and delivery.
What does it cost?
A unified management fee of 0.49% of average daily net assets, which is also the total annual operating expense.
When does it start trading?
The prospectus says shares will be offered as soon as practical, but it does not name a first trading day; the fund is slated to list on NYSE Arca and has not commenced operations.
How does it compare with the existing Pence UIT?
The UIT is a fixed two-year stock portfolio whose latest series carried a 3.24% one-time expense, including a 2.25% deferred sales fee, while the ETF is a perpetual fund at a flat annual fee.